"Our strategy is to be a player in all three parts of the cloud: SaaS, platform and infrastructure," he said. "We think we have a much stronger platform than any of our SaaS competitors."
Oracle also intends to be "price-competitive" in IaaS with the likes of Amazon Web Services and Microsoft Azure, he added.
Some observers see significant market pressures for Oracle moving forward, particularly in cloud software.
Some 38 percent of Oracle customers use Salesforce.com, up 30 percent from a year ago, and another 15 percent of Oracle's installed base is either planning to migrate or evaluate Salesforce.com, according to a new report from Morgan Stanley, which recently downgraded Oracle's stock.
Meanwhile, 15 percent of Oracle customers are using HCM (human capital management) software from Workday, up 40 percent year over year, and another 25 percent intend to take a look at Workday HCM, according to Morgan Stanley.
The investment bank also said recent survey data suggests potential adoption of Oracle's Fusion Applications is lower than initially expected, "which may be unable to stem the tide of continued migrations to Salesforce.com and potentially Workday offerings."
Oracle is not taking its rivals in SaaS lightly, according to Ellison.
"We are organized against our secular competitors," he said on the call." A while ago we decided we had to line up an HCM sales force directly against Workday. That's all they think about all day. We have another team of people competing against Salesforce. We are organized by functional area so we can compete against these new generations of specialists."
Oracle will likely have a healthy on-premises software business "forever," said analyst Ray Wang of Constellation Research. Still, like every on-premises software vendor Oracle faces a challenge keeping investors happy, as some of its revenue shifts away from perpetual licenses and their attendant large, up-front payments to cloud subscription fees, which are recognized differently on balance sheets, he said.
Observers will be looking to see how quickly customers upgrade to Oracle's new 12c database. The Oracle database's broad presence in enterprise IT environments not only generates ample revenue but also keeps customers wedded to Oracle in general, since many of them build custom applications with the software and unraveling the database layer is no small task.
Most Oracle database customers wait until the second release of a major new edition, preferring to let early adopters deal with any lingering bugs. While the question remains of how many customers complete that upgrade or port their systems to rival databases, Oracle is hoping 12c's cloud-friendly features and an upcoming in-memory option will keep them in the fold.
There's other work for Oracle to do as well, given the growth in technology spending at the departmental level, such as marketing and human resources, Wang said: "They need to shift from a product-centric, techy marketing message to talking about business outcomes."
Chris Kanaracus covers enterprise software and general technology breaking news for The IDG News Service. Chris' email address is Chris_Kanaracus@idg.com